Dermatoscope Market CAGR of 10.8% Boosting the Growth Worldwide: 2021 Market Key Dynamics, Recent and Future Demand, Trends, Share Valuation Industry Size | By Report Ocean

Report Ocean presents a new report on global dermatoscope marketsize, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.

Market Introduction

The global dermatoscope market held a market value of USD 117.5 Million in 2020 and is projected to reach USD 233.2 Million by the year 2027. The market is anticipated to grow at a CAGR of 10.8% from 2017 to 2027. Approximately 146,674 units of dermatoscopes were sold in 2020.

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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Global dermatoscope market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.

The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while otherI private revenues accounted for 7.5%.

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth. 

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Dermatoscopes are hand-held visual aid device that help physicians for examination and diagnosis of skin lesions and diseases, such as melanoma. The device is also useful for examining hair, nails, and scalp. The market is expected to be driven by the rising prevalence of melanoma cancer coupled with growth in research & development activities as well as findings for research areas. Furthermore, technological advancements are also estimated to fuel the market growth.

Despite the driving factors, high cost associated with the treatment of cancer and availability of alternatives such as SPECT and PET are anticipated to hinder the market growth. Moreover, reimbursement uncertainties & issues along with stringent regulatory policies are expected to negatively impact the market growth.

Growth Influencers:
Increasing prevalence of melanoma cancer
The prevalence of cancer is increasing rapidly. According to the American Cancer Society, as of January 2021, around 106,110 new cases of melanoma are diagnosed in America every year and 7,180 people die suffering from melanoma every year. The source also stated that melanoma accounted for 1% of all skin cancers. However, it causes majority of skin cancer deaths. Hence, the growing prevalence of melanoma cancers is anticipated to boost market growth.

Segments Overview:
The global dermatoscope market is segmented into type and application.

By Type,
Traditional Dermatoscope
Digital Dermatoscope

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The digital dermatoscope is anticipated to witness the fastest growth rate of around 12.4% owing to growing technological advancements in the segment. The traditional dermatoscope segment is expected to surpass a market volume of about 79,000 units by 2025.

By Application
Hospitals
Clinics
Others

The clinics segment is anticipated to hold the largest market share of about 61% owing to the easy availability of technologically advanced products in the clinics. The hospitals segment is expected to grow at a CAGR of 10.3% owing to growing number of hospitals globally.

Regional Overview

By region, the global dermatoscope market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.
The European region accounted for the largest market share of more than 36.9% owing to the presence of major players in the region and increasing prevalence of skin cancer in the region.

The Asia Pacific region is expected to witness the fastest growth rate of about 12.6% owing to growing adoption of technologically advanced products in the region. North America and South America regions are also anticipated to witness significant growth rated during the projected period.

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Competitive Landscape

Major players in the global dermatoscope market include Dermlite, Heine, Dino Lite, Canfield Scientific, WelchAllyn, AMD Global, KaWe, FotoFinder, Caliber I.D., Firefly Global, and Metaoptima, among others. The cumulative market share of the eleven major players is near about 57.5%.
These market players are involved in collaborations, mergers & acquisitions, and new product launches, among other initiatives, to strengthen their market presence. For instance, in April 2021, Vectra WB180 delivered the 3D whole-body imaging at Mount Sinais new melanoma and skin cancer center.

The global Dermatoscope market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Dermatoscope market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

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Table Of Content:

Chapter 1. Research Framework
1.1. Objective
1.2. Product Overview
1.2.1. Market Segmentation
1.2.2. Market & Segment Definitions
1.3. Research Methodology
1.3.1. List of Primary & Secondary Sources
1.3.2. Market Size Estimation
1.3.2.1. Assumption for the Study
1.3.2.2. Data Triangulation
Chapter 2. Executive Summary: Global Dermatoscope Market
Chapter 3. Global Dermatoscope Market Overview
3.1. Industry Value Chain Analysis
3.1.1. Component/ Material Provider
3.1.2. Manufacturer
3.1.3. Distributor
3.1.4. End Users
3.1.5. List of Major Distributors & Consumers, By Region
3.2. PESTLE Analysis
3.3. Porter’s Five Forces Analysis

The global Dermatoscope market report answers questions such as:

What is the market size and forecast of the Global Dermatoscope Market?
What are the inhibiting factors and impact of COVID-19 on the Global Dermatoscope Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Global Dermatoscope Market?
What is the competitive strategic window for opportunities in the Global Dermatoscope Market?
What are the technology trends and regulatory frameworks in the Global Dermatoscope Market?
What is the market share of the leading players in the Global Dermatoscope Market?
What modes and strategic moves are considered favorable for entering the Global Dermatoscope Market

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What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.

Reports on the market include the growth rates of each region, which includes their countries, over the coming years.

How are the key players in the market assessed?

This report provides a comprehensive analysis of leading competitors in the market.

The report includes information about the key vendors in the market.

The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.

The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.

A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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